Philippines seeks rice supply boost

Philippine President Ferdinand Marcos Jr. said on July 29 the country must boost its rice stocks and that he may seek a supply deal with India, worried about the potential impact of El Nino dry weather on the local harvest and about other suppliers.

The President told officials in the northern province of Cagayan, where he went to assess the damage from Typhoon Doksuri, that he’s thinking about the national supply for rice.

The Philippines, one of the world’s biggest rice importers, traditionally buys the staple grain mainly from its neighbour Vietnam. But Marcos said supply from Vietnam might become limited as other buyers crowd in. Therefore, he’s considering a deal with India

A spokesman for India’s food ministry did not immediately respond to a request for comment.

India last week banned exports of non-basmati white rice – its largest rice export category – to ease domestic prices that climbed after rains caused significant crop damage. New Delhi left open the door for government-to-government deals, saying it will consider meeting the requirements of countries in need of rice./.

Source: Vietnam News Agency